Anadolu Efes now sees FY2026 Beer Group volumes down low single digits
Reuters2026/08/13 13:20- Anadolu Efes cut FY2026 Beer Group outlook: volumes seen down low-single digits, versus prior low-single digit growth.
- EBITDA margin now expected to fall about 150 bps under TAS 29, or about 100 bps excluding TAS 29.
- Guidance change followed a slower-than-expected Türkiye beer recovery; 2Q Türkiye beer volumes fell 12.5%, Beer Group volumes dropped 8% to 3,800,000 hl.
- Beer Group free cash flow still targeted at breakeven for the year; 2Q Beer Group free cash flow totaled TL 3.8 billion.
- Consolidated outlook maintained: mid-single digit volume growth, low-single digit revenue/hl growth under TAS 29, with EBITDA margin seen slightly lower.
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